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Nov 26, 2010
 
Statistics
KSE-100 Index
Previous Index 11,154.83
Current Index 11,135.34
Change % -0.17%
YTD (CY10) 17.98%
YTD (FY11) 14.43%

International Indicators
  Close %age
BSE-30 19,318.16 0.73
HANGSENG 23,054.68 0.10
NIKKEI 255 10,079.76 0.50
FTSE 5,698.93 1.49
DJIA 11,187.28 1.37
SSEC 2,889.52 -0.03
Tadawul 6291.3 1.07
DFM 1682.23 0.84
Kuwait 6928.00 0.98
Muscat 6550.00 1.68
NASDAQ 2,543.12 1.93

SCRA
Nov 23, 2010 -3.78
Nov, 2010 45.84
YTD (FY11) mn 150.56

Money Market Updates
6m T-bill 3-Nov-10 13.1099%
12m T-bil 3-Nov-10 13.2353%
3m KIBOR 13.03%
6m KIBOR 13.31%
10 yrs PIB 13.17%

Exchange Rates
Inter-Bank Currency Rates
PKR/EUR 114.59
PKR/GBP 135.31
PKR/USD 85.55
PKR/OMR 219.00

Commodities
Oil $83.72/barrel
Change in % -0.14
Gold $1374.10/ounce
Change in % -0.90

Inflation
CPI Gen. - YoY (Oct-10) 15.3%
CPI Gen. - FY11 (Jul- Oct 10) 14.2%
NFNE Core INFL - YoY (Oct 10) 9.3%
NFNE Core INFL - FY11 (Jul- Oct 10) 9.7%

Economic Indicators
GDP Growth FY10E 4.10%
Per Capita Income $ 1,1046
Population 170.45mn
US$ Reserves (Nov 22, 2010) $16.91bn
Trade Balance Sep $(0.59)bn
Curr. A/C (Jul-Sep-10) $(545)bn
Remittances (July - Oct 10) $3.5bn
Foreign Investment (Jul - Sep 10) $455.1mn
All Sch. Banks Deposit Base (Nov 12, 2010) Rs672.14bn

NAVs and Returns
as of Nov 25, 2010
Funds Offer Redemption
POAIIF 51.6488/- 51.1323/-
Daily Return 9.02%
POIAAF 57.93/- 56.48/-
Daily Return 45.29%
POAAAF 56.87/- 55.45/-
Daily Return 65.94%
POAF 10.24/-
Daily Return 12.08%
*Daily Returns are calculated as per MUFAP guidelines

Funds Rating
AMC Ratings AM3
POAIIF-Fund Rating A+ (f)
POAF Fund Rating AA-
Economy

Exchange companies operating at will
Exchange companies are trading at multiple rates without any uniformity in buying and selling rates of foreign currencies in the open currency market, it was observed on Wednesday. Thousands of overseas Pakistanis, especially from the Middle East, are currently in Pakistan to celebrate Eid with their families. more... (D)

Cotton market
The fresh fall in cotton prices was halted on Thursday as local market recovered in sympathy with New York cotton futures, which staged smart rally on strong speculative support at the lower levels. more... (D)

Seminar on RGST held
The government is to introduce a uniform standard tax rate by replacing 12 tax rates to make it easy for the common man to understand the new tax regime. more... (D)


Politics

Gilani, Chinese PM vow to strengthen strategic ties
Prime Minister Syed Yusuf Raza Gilani and Chinese Premier Wen Jiabao on Thursday reiterated the resolve to further strengthen their strategic bilateral ties in trade, economy, energy, defence and other areas. more... (BR)

Negotiations remain dealocked: Dr Sheikh, Malik meet MQM team over RGST
Deadlock emerged in talks between government team and Muttahida Qaumi Movement, over RGST implementation late Wednesday, Aaj News reported. The government team comprising Interior Minister Rehman Malik and Finance Minister Abdul Hafeez Sheikh met with MQM leaders at Governor's House. The meeting lasted for about seven-and-half hours. more... (BR)

Government move to ostracise TI Pakistan: PML-N submits adjournment motion
Pakistan Muslim League-Nawaz (PML-N) on Wednesday submitted adjournment motion in the National Assembly Secretariat against the government for asking all the ministries, divisions and attached departments to sever all links with the Transparency International. The adjournment motion was signed by Rana Tanvir Hussain, Chaudhry Muhammad Barjees Tahir, Muhammad Hanif Abbasi, Anusha Rehman and Nuzhat Sadiq. more... (BR)

 

Sector Briefing

NEPRA warns of more power cuts
National Electric Power Regulatory Authority (NEPRA) has reduced the power tariff under monthly fuel adjustment by Rs0.32 per unit on Thursday. Owing to the decrease of power production in October, Nepra approved a reduction of Rs0.32 per unit for eight electricity distribution companies of the country. The concerned consumers will benefit from this power tariff reduction in next month's bills. more... (TFD)

OGDC, PPL mull BP Pak joint bid

Pakistan's biggest listed firm, Oil and Gas Development Co Ltd (OGDCL), is mulling a joint bid with Pakistan Petroleum Ltd (PPL) for BP's assets in Pakistan and has a Dec 6 deadline to make an offer, sources close to OGDCL said Thursday. BP announced its plans to sell its upstream assets in Pakistan in July, as part of a $10 billion global asset sale aimed at raising cash to pay for its Gulf of Mexico oil spill. more (TFD)

Byco acquires storage terminal at port

Byco Petroleum Pakistan Limited (formerly Bosicor Pakistan Limited) — the company in the business of oil refining and petroleum marketing — has acquired a storage terminal at the Karachi Port – Keamari. “The terminal with storage capacity of 10,500 tons would go into operation next month,” Kalim A Siddiqui, President, Petroleum division of the company, told Dawn on Thursday. more... (D)

Govt set to cut PSDP by 46pc
Government is all set to cut its development spendings by 46 per cent, squeezed by worsening economic conditions and International Monetary Fund demands, government sources say, imperiling growth prospects. Pakistan will cut its Public Sector Development Programme (PSDP) budget by almost half to Rs150 billion ($1.75 billion) for fiscal year 2010/11, according to government sources who declined to be identified because they were not authorised to speak to the media. more... (D)

 

KSE Notices
 
 

Arif Habib Investments (Pakistan Cash Fund)
The Board of Directors of Arif Habib Investment Limited, the Maagement Company of Pakistan Cash Management Fund has approved a bonus of Re 0.42 per unit. more... (KSE)

 

 

 
(BR) Business Recorder, (D) Dawn, (N) The News, (DT) Daily Times, (FD) The Financial Daily, (KSE) Karachi Stock Exchange
Separator
Disclaimer:
This news update is being circulated for information purposes only and no action is being solicited based on it. Information and calculations presented in this news update have been generated from sources which we believe to be reliable, however we do not represent that it is accurate, complete and should be relied upon. Pak Oman Asset Management Company Ltd. does not assume any liability on it. This news update or any part of it should not be reproduced, published or distributed without prior permission.